MUMBAI: Fugitive diamond merchant Nirav Modi’s sister Purvi Modi helped the Enforcement Directorate (ED) to recover Rs 17.25 crore in a money laundering case they are investigating against her brother.
Purvi had an account associated with her in the UK with $2,316,889 (Rs 17.25 crore) balance and transferred the money into the bank account of the government of India.
Earlier, the ED named Purvi and her husband Maiank Mehta as accused in the case along with Nirav Modi and others.
Purvi and Maiank had filed application before special court in Mumbai for allowing them to seek pardon under Section 306 and 307 of Cr.P.C. and undertook to make true and full disclosure of the circumstances and events without concealing any evidence and provide complete documents against her brother, key accused in the case. The court has allowed for grant of tender of pardon.
Purvi had informed the ED that a bank account was opened in her name by Nirav with a balance of Rs 17.25 crore. She communicated to the ED that the money does not belong to her and subsequently agreed to transfer it to the government of India.
Purvi, a Belgian national and Maiank an Irish national were named co-accused by the ED. The attached properties were acquired or generated from proceeds of crime by Nirav Modi in the name of Purvi and several companies showing her as an owner.
The coupe agreed to help ED to auction the attached properties to recover the bank money.
During the investigation, the ED found that Purvi has more than a dozen bank accounts and has ownership of various companies/Trusts abroad. She along with her husband submitted before the Adjudicating Authority, that all the companies, properties and accounts mentioned in the ED’s chargesheet (Except Pavillion Point Corporation) belong to Nirav Modi.
She gave her willingness to offer all cooperation to repatriate the assets to India. The couple told officials that the funds channelized through their accounts belonged to Nirav Modi.
Nirav Modi along with his uncle Mehul Choksi defrauded the Punjab National Bank (PNB) of Rs 13,000 crore through forged Letter of Undertaking (LOU) in connivance with the bank officials.
They laundered the defrauded money abroad through large scale fraudulent imports and exports of jewelry and diamonds.





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